TORONTO, Oct. 30, 2012 /CNW/ - Strata Minerals Inc. (TSX-V: SMP) ("Strata" or the "Company") is pleased to announce the completion of its previously announced drilling campaign in connection with the Phase 1 exploration program at the Company's 80% owned Cardabia Phosphate Project (the "Cardabia Project") located near Exmouth in Western Australia.
Drilling commenced in early September and was concluded with 2,283 meters drilled in 74, 3.5 inch air-core holes concentrated along a previously defined outcropping phosphate horizon located in the southeast portion of the Cardabia Project.
Drill holes were sampled on 0.5 meter intervals and logging of drill cuttings is underway. Samples will be shipped to the Bureau Veritas - Amdel (Minerals) lab in Adelaide, Australia for comprehensive sizing and analysis. Initial results are expected by year end with the balance of analytics expected in the first quarter of 2013.
In addition to the drill campaign, the Phase 1 exploration program will include reprocessing of historic geophysics data and the extraction and testing of a bulk sample for metallurgical testing. The precise location and timing of the bulk sample test will be determined following drill hole data compilation and analysis.
Strata's board and management recently met on site at the Cardabia Project to review the results to date and familiarize themselves with local infrastructure. Commenting on the Phase 1 program, Peter Kozicz, President & CEO said, "We are pleased with progress to date. Looking ahead, the focus now turns to logging drill cuttings and the analysis of drill samples. The goal of the Phase 1 program is to adequately test and confirm the potential for the property to host significant phosphate mineralization as suggested by historical drilling and Strata's recent NI 43-101 report."
About Strata Minerals Inc.
Strata Minerals Inc., is an emerging, Australasia focused, agricultural nutrient company exploring for commercial scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing the Cardabia Project located in Western Australia. All references to the Company in this release include the Company's wholly owned Australian subsidiary, Strata Minerals Pty Ltd. For further information, please refer to the Company's website at www.strataminerals.com.
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding the development and operation of Strata's mineral properties and the potential for Strata's Cardabia Project to host significant phosphate mineralization. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Strata, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
SOURCE: Strata Minerals Inc.
For further information:
Peter Kozicz, President & CEO
Tel: 1 416 460-1159
Email: [email protected]
Brent Lokash, EVP & CFO
Tel: 1 604 862-5190
Email: [email protected]